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Telcoin (TEL) is a decentralized Ethereum-based cryptocurrency launched in Singapore in July 2017 to bridge the gap between cryptos, blockchain, and the telecommunications sector.

The initiative intends to work with industry leaders such as Verizon and AT&T to eliminate the friction between billing platforms and mobile money.

Telcoin’s major emphasis is the remittance business, which Western Union currently dominates. Telcoin has teamed up with global telecommunications companies and mobile money platforms to provide consumers high-speed, low-cost digital transfers to mobile money platforms and e-wallets.

Telcoin (TEL) is an Ethereum blockchain-based ERC-20 token. TEL is a telecoin that may be used to make payments on e-commerce websites.

What Makes Telcoin Unique?

The remittance markets are Telcoin’s major emphasis. Despite the fact that there are nearly five mobile phones to a bank account, individuals still wait up to send money through high-cost remittance brokers, the largest of which is Western Union.

Telcoin is providing consumers in the poor world a quicker, low-cost alternative to remittance services by leveraging the power of blockchain. Telcoin does this by collaborating with mobile carriers and e-wallets throughout the world to provide a contactless service to a large number of people.

Telcoin, like any other decentralised digital asset, provides its users total control over their funds through their phones. Users may send and receive money from anywhere in the world at their leisure. The project is also focused on the user, with the platform designed to be as user-friendly and familiar as possible.

TEL tokens can be issued immediately by telecom providers who connect to the Telcoin network. The network rewards operators for their TEL token traffic; the more TEL token traffic an operator has, the more incentives he receives from the network.

Telcoin’s incentive approach, according to Telcoin, enables exceptionally low price services that are appealing to end-users while being lucrative for networks.

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